Amendment to Employment Agreement between Blue Ridge Paper Products Inc. and Robert Shanahan (August 21, 2006)
Blue Ridge Paper Products Inc. and Robert Shanahan have agreed to extend and amend the terms of their original employment agreement dated July 16, 2001. The new agreement extends Mr. Shanahan's employment through December 31, 2006, or until earlier termination as specified in the agreement. It also increases his annual salary from $180,000 to $189,900. All other terms of the original agreement remain unchanged.
Exhibit 10.1
August 21, 2006
Mr. Robert Shanahan
21 Dianthus Drive
Asheville, NC 28803
RE: Employment Contract Dated July 16, 2001
Dear Bob:
This letter confirms the agreement between you and Blue Ridge Paper Products Inc. (“Blue Ridge”) for an extension of the terms of the Employment Agreement between you and Blue Ridge dated July 16, 2001 (“2001 Agreement”).
Section 2, Term, of the 2001 Agreement is amended by deleting the entire paragraph and inserting the following in lieu thereof: “The term (the “Term”) of this letter agreement shall commence on August 21, 2006 (the “Effective Date”) and shall continue through and including the earlier of (i) December 31, 2006 or (ii) the date on which this letter agreement is terminated pursuant to paragraphs 11, 12, 13 or 14 of this letter agreement.”
Section 5, Salary, of the 2001 Agreement is amended by deleting the figures “$180,000” and inserting in lieu thereof the figures, “$189,900.”
Except as herein amended the 2001 Agreement is hereby restated and confirmed.
Our respective signatures below indicate our mutual assent to the terms of the 2001 Agreement, as amended.
| Sincerely yours, |
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| BLUE RIDGE PAPER PRODUCTS INC. | ||||
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| BY: | /s/ Richard A. Lozyniak |
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| Richard A. Lozyniak, President and CEO | ||||
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| Agreed to and accepted: |
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| /s/ Robert M. Shanahan |
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| Robert M. Shanahan |
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